Depression Era Quotes #2

Depression Era Quotes #2

22. Depression Era Quotes #2

September 25, 2008

When historians write about the current crisis, much of the blame will go to the slump in the housing and mortgage markets, which triggered the losses, layoffs and liquidations sweeping the financial industry.

But credit default swaps — complex derivatives originally designed to protect banks from deadbeat borrowers — are adding to the turmoil.